Everything You Need to Know About Flood Insurance (1)

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Everything You Need to Know About Flood Insurance
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• Did you know that as many as 90 of natural
  disasters that occur in the US, involve some kind
  of flooding? And did you also know that as much
  as 20 of that flooding often hits areas that are
  only classed as being of low or moderate flood
  risk?
• While its nobodys intention to worry you
  unnecessarily if youre a homeowner in the US,
  its important to understand that homeowners
  insurance policies dont cover flooding in their
  standard policies, and if you want to make sure
  that your home is protected against an
  eventuality such as a flood, you should learn
  more about flood insurance protections

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• The basics of flood insurance
• Floods are not covered under homeowners and
  renters policies. Only if you have purchased a
  specific flood insurance policy will your home be
  covered against any losses incurred due to the
  unfortunate event of a flood.
• Most flood insurance is administered by the
  federal government. Under a contract known as
  FEMA, homeowners and renters can purchase flood
  coverage from an insurer, whereas federal flood
  insurance is available in those areas in which
  the local government has adopted flood plain
  management regulations under the NFIP there are
  many communities who take part in this program.

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• Direct physical losses from floods and flood
  related erosion are covered in a flood insurance
  policy. Flood related erosion can be that such as
  is caused by waves or currents of water exceeding
  their usual cyclical levels, and which may be
  accompanied by a severe storm, a flash flood, or
  an abnormal tidal surge.
• To cover the structure and contents of your home,
  you must buy two separate policies. Your home
  itself (the building), is covered for replacement
  cost, but coverage for personal property is only
  made available on an actual cash basis.

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• Coverage amount for the structure of a home is a
  maximum of 250,000, and 10,000 for the
  contents. Private insurers offer excess coverage
  that goes over and beyond the maximums available
  through a government insurance policy.
• Flood coverage for cars is not included. A
  standard automobile insurance policy will provide
  coverage for a car under its optional,
  comprehensive portion.

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• What happens if theres a flood and I havent got
  adequate (if any) coverage?
• Unfortunately, if youre the victim of flooding
  and your home and/or its contents are damaged or
  destroyed as a result ad you dont have a flood
  insurance policy, then you would probably need a
  loan to cover those costs. In some communities,
  and depending upon the severity of the flood, the
  federal government may make a low-interest loan
  available as part of a relief package, but of
  course it needs to be paid back.

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• There really is only one way to ensure that you
  dont lose money if your home gets flooded, and
  thats by purchasing a flood insurance policy. To
  make sure your home is covered should you fall
  victim to a flood, talk to a professional,
  private insurance company today.
• We Insure Miami was founded on the principle that
  every individual and business, big and small, has
  assets and valuables that need to be protected
  and insured against forces outside of our
  control. We offer Homeowners, Auto, business
  insurance and flood insurance in Miami FL. Our
  agents understand that you work hard every day to
  protect your car, home, business and family. WE
  are passionate about Insurance and passionate
  about serving you. If you are looking for
  homeowners, car or business insurance companies
  in Miami, contact us for a quote or a
  complimentary review of your insurance policies.